GeopoliticsMedium•13 November 2026•
1 min read
Bessent Blames Commerce Dept for Delay in Blacklisting Megaspeed Over NVIDIA Chips
Key Facts
1Treasury Secretary Scott Bessent stated that the Commerce Department holds the final authority ('has the pen') regarding the delay in blacklisting Megaspeed.
2Megaspeed is accused of illegally diverting U.S.-made NVIDIA chips to China.
Treasury Secretary Scott Bessent stated that the Commerce Department holds the final authority regarding the delay in blacklisting Megaspeed. Axios reported that Megaspeed is accused of illegally diverting U.S.-made NVIDIA chips to China, amid rising tensions within the administration over national security lapses involving advanced AI hardware.
NVIDIA shares closed at $166.19 on November 12, 2026, as the company remains under pressure from reports linking its chips to Chinese intelligence assets. On the same day, peer stocks AMD and TSM closed at $585.3 and $405.49 respectively, while INTC finished at $61.2.